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1.3.2.1b - Reasons why consumers may not aim to maximise utility: • the influence of other

Syllabus
2018
Objective
1.3.2.1
Level
AS

b - Reasons why consumers may not aim to maximise utility: • the influence of other

Reasons why consumers may not aim to maximise utility:; the influence of other people's behaviour (herding); habitual behaviour; inertia; poor computational skills; the need to feel valued; framing and bias.

Use b - reasons why consumers may not aim to maximise utility: • the influence of other to connect the rule to the data and decision in the question.

This matters because b - reasons why consumers may not aim to maximise utility: • the influence of other determines what can be inferred or chosen; begin with the stated conditions and keep the conclusion tied to the evidence.

Example: apply b - reasons why consumers may not aim to maximise utility: • the influence of other to one small, clearly defined case, show the key step or comparison, and explain the result in words.

Boundary: b - Reasons why consumers may not aim to maximise utility: • the influence of other is not a universal recommendation. Check the syllabus scope, assumptions, units and the limits of the evidence before generalising.

ConceptA-Level Edexcel Economics AS